Porsche takes control of VW

* Porsche gains majority control * Next step is to bid for Audi * Could lead to less choice for car buyers...

Porsche takes control of VW
Author Avatar
Jim Holder
19 Sep 2008 10:21

Porsche has taken a controlling stake in Volkswagen and it could lead to performance and supercar car buyers having less choice.

This week, Porsche took its holding in VW to 35.14%, giving it the majority stake in the company. Under German law, it now has to bid for Audi as well.

Industry analysts are now predicting that, in the long-term, Porsche will dramatically reduce the number of products that compete for customers within their ranges once it has established control.

Most likely, this will focus on Porsche rivals that are made by the VW-Audi group, such as the Audi R8 and Lamborghini Murcielago.

The Bugatti Veyron supercar could also be under scrutiny, as it's rumoured to have made little profit for the company.